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J&J boosts prostate cancer R&D with $650 million deal, Medivation drops

 
• By Brett Chase

Johnson & Johnson agreed to pay $650 million in cash for closely held Aragon Pharmaceuticals to get an experimental prostate cancer drug similar to Medivation's Xtandi.

Johnson & Johnson agreed to pay $650 million in cash for closely held Aragon Pharmaceuticals to get an experimental prostate cancer drug similar to Medivation's Xtandi.

The deal would be worth up to $1 billion if milestones for the drug are met. J&J’s Janssen division plans to develop Aragon’s drug known as ARN-509, which is in Phase II testing for castrate resistant prostate cancer

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